Dublin, May 15, 2023 (GLOBE NEWSWIRE) -- The "Water Pump Market By Type, By Driving Force, By Application: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering. The global water pump market was valued at $56,108.8 million in 2021, and is projected to reach $86,304.4 million by 2031, registering a CAGR of 4.4% from 2022.
A water pump is a machine that is used in moving water through pipelines. These pumps are operated by various energy sources such as electricity, fuel engines, or wind power. Petrol Water Pump
The main purpose of a water pump system is to move water from one area to another. It is widely used as a form of water extraction on construction sites to aid in water extraction during drilling, sewage treatment plants, flooded areas, or when dealing with water and oil wells. Rise in adoption of water pumps in oil & gas, chemicals, water/wastewater industry fuels the growth of the water pumps market. In addition, the oil & gas industry is the largest consumer of water pumps globally, and includes the use of industrial valves in downstream, midstream, and upstream process applications.
Rise in demand for water pumps in North America boosts the need for importing water pumps from other countries, thereby driving the water pumps market growth. Moreover, the food & beverages processing industry is largely saturated in the developed countries, including the European Union countries, the U.S., and China. However, the saturation in industrial growth in major developed countries, such as Germany, the U.S., the UK, and others, is expected to affect the growing trend for water pumps significantly. The demand for water pumps is extremely slow paced in the previously mentioned countries mainly due to the developed industrial infrastructure.
This is predicted to restrain the growth of the water pumps market. In addition, fluctuation in raw material price is anticipated to restrain the growth of the water pumps market. On the contrary, technological advancements in water pumps, such as the implementation of automation and control technologies, are expected to create lucrative growth opportunities for the water pump market. Key Benefits
The report provides an Extensive analysis of the current and emerging water pump market trends and dynamics.
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2021 and 2031.
Extensive analysis of the water pump market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The water pump market forecast analysis from 2022 to 2031 is included in the report.
The key market players within water pump market are profiled in this report and their Strategies are analyzed thoroughly, which help understand the competitive outlook of the water pump industry.
Rapid industrialization and urbanization in emerging economies
Rise in demand from the mining industry
Fluctuating cost of raw materials
Surge in demand for wastewater management
Estimated Market Value (USD) in 2021
Forecasted Market Value (USD) by 2031
For more information about this report visit https://www.researchandmarkets.com/r/dramyu
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